User:
A price ceiling is a minimum price that the government establishes by law.
Answer True
False

Weegy: The Government can set a legally imposed maximum price in a market that suppliers cannot exceed – in an attempt to prevent the market price from rising above a certain level. [ To be effective a maximum price has to be set below the free market price.
One example of a maximum price might when shortage of essential foodstuffs threatens large rises in the free market price. Other examples include rent controls on properties – for example the system of rent controls still in place in Manhattan in the United States. ] Expert answered|clouise|Points 289|